Ho Chi Minh City (HCMC) is the most populous city in Viet Nam with a total population
of 8.9 million, as of 2019. The City lies along the Saigon River to the north of the Mekong River delta and is about 50 miles (80km) from the East Sea. An ideal hub for commercial and passenger traffic, HCMC is within a 2-hour flight from any major cities in Southeast Asia. According to the World Economic Forum, HCMC is ranked 8th among the world’s 10 most dynamic cities. In 2018, HCMC attracted over USD $7 billion in FDI, accounting for 22% of Viet Nam’s total FDI. HCMC’s GRDP increased by 8.3%, reaching USD $57 billion, accounting for 27.2% of the National’s revenue. As Viet Nam’s driving force for economic development, HCMC has been a preferred destination for investment in Southeast Asia, leveraging Viet Nam’s 11 FTAs, such as CPTPP, with major economies around the globe.
Facts
Ho Chi Minh City has always been at the top of the country’s Provincial Competitiveness Index (PCI). In 2018, HCMC ranked 10 out of 63 provinces in the PCI.
HCMC’s strategic location along the Saigon River makes it an ideal hub for commercial and passenger traffic. Saigon Port is the largest port in HCMC and has the highest container traffic of any port in the country. Each year, approximately 12 million tons of goods pass through Saigon Port. Major commodities imported to Viet Nam through the Port include fertilizer, steel, iron, wheat, machinery and chemicals. Rice is the port’s major export.
In 2018, HCMC’s export and import amounted to 38 billion USD, the highest in Viet Nam. HCMC’s Tan Son Nhat airport is now being expanded to accommodate 50 million passenger per year.
HCMC is an attractive tourist location because of its vivid mixture of the old and new. Upon arriving in HCMC, visitors are greeted by the City’s colonial structures and sleek skyscrapers, elegant sports clubs, and expansive shopping malls. The City has a wide array of accommodation options, and its unique transportation means such as motorcycle taxis and cyclos make it relatively easy to explore the City center and beyond. HCMC welcomed 7.5 million international visitors, accounting for 7% of total tourists to Vietnam.
As the major economic hub of Viet Nam, HCMC attracts a large pool of educated talents from Viet Nam and Southeast Asia. The city’s competitiveness continues to improve as its productivity is currently 2.95 times higher than Viet Nam’s average.
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